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Comment Re:at some point... (Score 1) 827

that's the problem we have going forward.
A generation of students with aggregate debt > $1T, greater than the aggregate credit card debt. Note that credit card debt was lent on proof of existing revenue, the student debt was lent on "you might make money in 5 years if the economy is good and you have a good degree".

Comment used to think like you. (Score 2) 827

If you borrowed it, you should have to pay it back. It doesn't make any sense to allow people out from under their debts that they made the conscious decision to borrow. If you don't understand the total costs, how the lending and repayment processes work, or if you don't have any solid plans for living with that debt, you shouldn't be borrowing it. Period. I don't care if it's a mortgage, a car loan, a school loan, or even your neighbor's tools. Your borrowing choices and the repayments from those choices should always be your own responsibility.

Nevermind we tell them they're worthless unless they go to college (what you want to flip burgers your whole life?) and just say "oh well it pays for itself", and our schooling system doesn't teach how repayment processes work, what a promissory note is, how to choose a degree that will be in demand in 5 years (serious lol at this one), or how to find random part time jobs besides McD (crap pay) that can help you pay your way through college.

No, rather, they're supposed to just fabricate or synthesize that information for themselves out of thin air (if they could do that, they would be an entrepreneur and wouldn't need college).

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